J. J. Dix, Inc. v. Commissioner
United States Tax Court
1. Held, business expenses paid by a corporation out of a fund representing unreported gross income must be deducted in determining the correct net income of the corporation. 2. Held, estimates of amounts paid over ceilings of prices and wages may not be included in cost of goods sold in the absence of evidence establishing the amounts so paid. 3. Held, an individual taxpayer may not be charged with a percentage of corporate income because of ownership of that percentage of…
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1. Held, business expenses paid by a corporation out of a fund representing unreported gross income must be deducted in determining the correct net income of the corporation. 2. Held, estimates of amounts paid over ceilings of prices and wages may not be included in cost of goods sold in the absence of evidence establishing the amounts so paid. 3. Held, an individual taxpayer may not be charged with a percentage of corporate income because of ownership of that percentage of corporate stock in the absence of evidence that he received such income. 4. Held, deficiencies determined more than…
1Opinion of the Court
J. J. Dix, Inc. v. Commissioner. Monroe L. Dix v. Commissioner. Estate of Jacob J. Dix, Deceased v. Commissioner.
J. J. Dix, Inc. v. Commissioner
Docket Nos. 26251, 26250, 26252.
United States Tax Court
1953 Tax Ct. Memo LEXIS 248; 12 T.C.M. (CCH) 536; T.C.M. (RIA) 53174;
May 20, 1953
1. Held, business expenses paid by a corporation out of a fund representing unreported gross income must be deducted in determining the correct net income of the corporation.
2. Held, estimates of amounts paid over ceilings of prices and wages may not be included in cost of goods sold in the absence of evidence…
2Cases cited5 opinions
- Commissioner v. WilcoxSupreme Court of the United States · 1946
- Rutkin v. United StatesSupreme Court of the United States · 1952
- Summerill Tubing Co. v. CommissionerUnited States Board of Tax Appeals · 1937
- Saven Corp. v. CommissionerUnited States Board of Tax Appeals · 1941
- Gwinn Bros. & Co. v. CommissionerUnited States Tax Court · 1946
3Cited by2 opinions
- J. J. Dix, Inc. v. Commissioner of Internal Revenue, Estate of Jacob J. Dix, Deceased v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1955
- J. J. Dix, Inc. v. Commissioner of Internal Revenue, Estate of Jacob J. Dix, Deceased v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1955